Legal Question in Wills and Trusts in Illinois
My mother is dying of Mesothelioma, there is a potential of "settlement $" from personal injury suits. She is on Medicare and Medicaid. Which type of Trust will best protect her, her assets and settlements? She can not lose her aid.
2 Answers from Attorneys
It might be in your mother's best interests to establish a Special Needs Trust for her. However, there are various concerns that must be considered. I am experienced in this area. Feel free to call me for a free consultation.
Any settlement money must first go to reinburse the State of Illinois for monies which it has paid on behalf of your mother. Depending on your mother's age, she may not qualify for a special needs trust and even if she does any settlement money must first go to provide for her care. Until those funds are depleted, her medicaid will be suspended. At the time of her death, the State will look back five (5) years and try to recapture and funds belonging to your mother which were diverted to other people including her family and heirs. Its a nasty business and you are strongly advised to protect yourself.